Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    643 Hinman Ave Evanston, IL 60202
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    643 Hinman Ave Evanston, IL 60202

    View on Map
    • Commercial real estate
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 643 Hinman Ave

    Year built
    1900
    Property type
    Commercial real estate

    Description

    This exceptional seven-unit multi-family property located at 643 Hinman Avenue in Evanston, Illinois, presents a compelling investment opportunity. The building boasts a desirable mix of unit sizes, including four spacious three-bedroom, one-bathroom units

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Evanston
    County
    Cook
    State
    Illinois
    Longitude
    -87.6766
    Latitude
    42.03

    Comparable in this City

    • Value Estimation by Request
      0.64 Acres

      Nwc Howard St & Sacramento Ave

      Land • 0.64 Acres
      0 Nwc Howard St & Sacramento Ave, Evanston, IL 60202
      View Details
    • Value Estimation by Request
      0.52 Acres

      2454 Oakton St

      COMMERCIAL (GENERAL) • 0.52 Acres
      2454 Oakton St, Evanston, IL 60202-2744
      View Details
    • Value Estimation by Request
      0.10 Acres

      1241 Pitner Ave

      COMMERCIAL (GENERAL) • 0.10 Acres
      1241 Pitner Ave, Evanston, IL 60202
      View Details
    • Value Estimation by Request
      0.10 Acres

      1239 Pitner Ave

      COMMERCIAL (GENERAL) • 0.10 Acres
      1239 Pitner Ave, Evanston, IL 60202
      View Details
    • Value Estimation by Request
      0.06 Acres

      1503 Howard St

      COMMERCIAL (GENERAL) • 0.06 Acres
      1503 Howard St, Evanston, IL 60202
      View Details
    • Value Estimation by Request
      0.58 Acres

      2270 Main St

      COMMERCIAL (GENERAL) • 0.58 Acres
      2270 Main St, Evanston, IL 60202
      View Details

    Similar Nearby for Sale

    • $599,000
      5,000 SF

      Evanston Mixed-Use Commercial Building

      Historic 3-level building near downtown Evanston and Metra station.
      834 Custer Ave, Evanston, IL 60202
      View Details
    • $899,900

      Evanston Multifamily Property For Sale

      Multifamily property in Evanston, Illinois, available for purchase.
      704 Florence Ave, Evanston, IL 60202
      View Details
    • Contact for pricing
      45,361 SF

      Grocery-Anchored Power Center Opportunity

      43,561 SF Class A retail building in Evanston, IL.
      2401 Howard St, Evanston, IL 60202
      View Details
    • Contact for pricing

      Evanston Commercial Land Outparcels Available

      Commercial land outparcels available in Evanston near Target shopping center.
      2400 W Howard St, Evanston, IL 60202
      View Details
    • Contact for pricing
      67,800 SF

      TOCA Football Net Leased Property

      Single tenant TOCA football property in Evanston, Illinois for sale.
      2454 Oakton St, Evanston, IL 60202
      View Details
    • Contact for pricing

      Retail Development Parcels Available

      Retail development parcels anchored by strong retailers.
      Nwc Howard St & Sacramento Ave, Evanston, IL 60202
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Evanston Retail Space For Lease

      Retail space available for lease in Evanston, Illinois.
      1910 Dempster St, Evanston, IL 60202
      View Details
    • Contact for pricing
      1,808 SF

      Redeveloped Community Shopping Center Space

      Retail space in redeveloped shopping center anchored by major retailers.
      2400-2438 Main St, Evanston, IL 60202
      View Details
    • Contact for pricing

      Evanston Office Space For Rent

      Private office space in Evanston's arts district. Move-in ready.
      1124 Florence Ave, Evanston, IL 60202
      View Details
    • Contact for pricing

      Evanston Office Space For Rent

      Single tenant office space available in Evanston, Illinois.
      825 Chicago Ave, Evanston, IL 60202
      View Details
    • Contact for pricing
      2,532 SF

      Evanston Retail Space For Rent

      Prime retail space in Evanston near transportation and shopping.
      847-851 Chicago Ave, Evanston, IL 60202
      View Details
    • Contact for pricing
      2,068 SF

      Evanston Retail Space Sublease

      Former bank space available for sublease in Evanston.
      520 Main St, Evanston, IL 60202
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    643 Hinman Ave
    Evanston, IL 60202
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!